The complete technical analysis of Bitcoin based on the latest data for May 2025:

Technical Analysis of Bitcoin (BTC) – May 2025

Bitcoin is currently trading around $97,000, after a strong rise since the beginning of April. The overall momentum is still bullish, but the market is approaching critical resistance areas.

1. General Trend:

The price is in an upward trend on the daily and weekly timeframes.

The ascending channel is still maintaining its strength, with gradually higher lows and highs.

2. Support and Resistance:

Current Resistance: $97,200 (breaking this level opens the way towards $100,000 then $107,000).

First Support: $92,000

Strong Support: $85,000 (in case of a deeper correction)

3. Technical Indicators:

RSI (Relative Strength Index): at 68 – close to the overbought area, but there is still buying strength.

MACD: Positive crossover since the beginning of the week – supports the continuation of the upward trend.

Trading Volume: Average, indicating that the market is still uncertain between continuing to rise or pausing.

4. Expected Scenarios:

Bullish: In case of a clear break above the $97,200 level with strong trading volume, the next target is $100,000 then $112,000.

Bearish: A break below $92,000 could push the price towards $85,000 where there are strong buy orders.

Conclusion:

The general trend is upward, but the market is approaching strong resistance. A break above $97,200 with a daily close gives a new entry signal. However, if it fails, we may witness a correction towards $92,000 or even $85,000 before attempting a new rise.